Appraisers frequently have their work reviewed, especially when an appraisal’s intended use is for financing. Reviewing appraisals is routinely part of the job description for appraisers employed by lending institutions. But the scope of work for review assignments varies significantly, and sometimes reviews are performed by non-appraisers. Both appraisers and their clients need to clearly understand when a review assignment is, in fact, an appraisal and whether an appraiser can conduct an accurate appraisal review.
Appraisals of the same property by different appraisers are rarely the same. Differing value opinions are usually a result of various factors. When an appraisal user encounters contrasting value conclusions for one property, they can decide— by considering several variables — which conclusion is most reliable.